This Friday I will debate a huge gold bug (and dealer) in a “Bitcoin vs Gold” podcast on one of my country’s biggest YouTube channels.
My first question to him will be:
“If I buy gold from your company, how do I know it is real?”
Any suggestions for zingers? Reply!
BITCOIN IS TRUTH. GOLD IS JUST SHINY.
What if we find a way to speed up mining for gold 100x?
The speed isn't the challenge. The energy expended per ounce extracted is the challenge.
That's why a golden asteroid is the only way to tank gold.
Another challenge is the rising industrial use of gold in a form that isn't recoverable. The global data centers have already eaten 841.5 million ounces.
Yeah, but that’s rephrasing what I said and focusing on an input. The energy consumed is one of many inputs that make it profitable to mine it at the current rate (2%). This is similar to how processors are fast as they are right now: that’s how fast they can get them while keeping them cool and energy efficient where people would pay for them.
Either way, whatever you want to focus on the result and implication is the same. Gold is not only not a finite asset but its mining isn’t even as predictable as Bitcoin’s.
How many % of the Gold price is actually monetary premium?
how much gold is there? do we know how much of the stuff exists out there?
